Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs City Index, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing online brokers CMC Markets and City Index, both companies exhibit a strong reputation in the world of trading. Founded in 1989, CMC Markets is a veteran next to City Index, which was established in 1983. Both brokers enjoy a high level of trust, each achieving a perfect Trust Score of 99 from ForexBrokers.com. This score reflects their reputations for reliability and security. Importantly, both are publicly traded entities, adding to their transparency and credibility, and neither operates as a bank.
In terms of regulatory backing, CMC Markets and City Index both hold several licenses that establish their credibility. CMC Markets is supported by 6 Tier-1 licenses, which are considered highly trusted, along with 1 Tier-2 license classified as trusted. Meanwhile, City Index holds the edge with 7 Tier-1 licenses, also paired with a single Tier-2 license. These licenses further cement their positions as secure options for online trading. Whether traders choose CMC Markets or City Index, they can be assured of a stable and trusted trading environment.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Year Founded | 1989 | 1983 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 6 | 7 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Looking strictly at commissions and fees, CMC Markets generally comes out cheaper than City Index. CMC Markets holds a 5-star rating and is ranked #1 of 63 brokers for Commissions and Fees in the 2025 ForexBrokers.com Awards, while City Index earns 4.5 stars and ranks #15 of 63. Both brokers are competitive, but CMC Markets tends to deliver tighter spreads and more ways to reduce trading costs.
CMC Markets posts an average EUR/USD spread of 0.61 pips (Aug 2023) and offers FX Active commission-based pricing in select regions (MT4 and Next Generation): $2.50 per side with minimum spreads of 0.0, producing a 0.5-pip all-in cost on EUR/USD and several other major pairs. Its Price Plus Scheme rewards higher monthly volumes with spread discounts; for example, earning two Trading Points per standard lot means 1,250 lots in a month can unlock a 20% discount at Tier 4. Notably, CMC’s average spreads have historically stayed close to its advertised minimums.
City Index’s pricing sits near the industry average, with an average EUR/USD spread of 0.74 pips on its CFD account (July 2023). You’ll find its best rates on the broker’s proprietary platforms or MetaTrader. High-volume traders may qualify for the Premium Trader account (deposit £10,000+) and for rebates: U.K. professional traders can earn £4–£7.5 per million based on monthly volume, and in Australia rebates range from AUD $4.5 to $14.5 per million. While City Index is competitive, CMC Markets typically delivers lower all-in costs, especially for active traders using FX Active.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Minimum Deposit | $0 | £100.00 |
| Average Spread EUR/USD - Standard | 1.3 | 1.4 |
| All-in Cost EUR/USD - Active | 0.65 | 0.74 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by CMC Markets and City Index, both platforms excel in providing a wide variety for traders. CMC Markets impresses with a total of 12,029 tradable symbols, including 141 forex pairs, allowing traders to explore a broad spectrum of markets. Notably, CMC Markets provides access to exchange-traded securities on both U.S. and international exchanges, giving clients the opportunity to invest in global companies like Apple and Vodafone directly. In contrast, City Index offers 13,500 tradable symbols with 66 forex pairs, yet it does not support the purchase of exchange-traded securities from the U.S. or international markets.
Both CMC Markets and City Index offer forex trading as a CFD or spot contract, as well as cryptocurrency derivatives, but neither allows for the purchase of actual cryptocurrencies. They also provide copy trading features, which cater to traders looking to mimic successful strategies. Interestingly, despite their differences, both brokers receive a strong five-star rating for their range of investments. CMC Markets ranks 9th, while City Index ranks slightly higher at 8th in ForexBrokers.com's analysis of 63 brokers. This data reveals that both platforms are strong contenders for investors seeking diverse trading opportunities.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 13500 |
| Forex Pairs (Total) | 141 | 66 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Both CMC Markets and City Index provide a comprehensive suite of trading platforms and tools, catering to traders who appreciate variety and functionality. Each broker offers a proprietary platform, accessible via Windows-based desktop downloads and convenient web-based browsers. Both also support the popular MetaTrader 4 platform, although only CMC Markets extends its offerings to include MetaTrader 5. Additionally, each platform allows for simulated trading with free demo accounts, aiding traders in refining their strategies without financial risk. Copy trading capabilities are present in both brokers' services, although neither supports DupliTrade or ZuluTrade. Both platforms notably include the option to trade directly from a stock chart and offer an identical number of columns for their watch lists, enhancing their usability for active traders.
CMC Markets and City Index shine in charting capabilities, though they differ significantly in drawing tools provided—CMC Markets offers 36 while City Index boasts 239. When it comes to technical indicators, the details are unclear, but each broker ensures a robust trading experience. Despite these strong offerings, distinctions emerge in ratings and rankings: CMC Markets earns a perfect five-star rating and secures the fourth spot among 63 brokers for trading platforms and tools, while City Index holds a respectable 4.5 stars and ranks eleventh. These nuances may serve as pivotal factors for traders deciding between the two for their online trading needs.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 73 | 88 |
| Charting - Drawing Tools (Total) | 36 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between CMC Markets and City Index for mobile trading, both brokers offer comprehensive apps for iPhone and Android users. These apps are equipped with features like stock and forex price alerts, as well as the capability to sync watchlists with your online account, ensuring seamless transitions between platforms. If technical analysis is a priority, City Index leads with 88 technical studies compared to CMC Markets’ 29. Both apps support drawing trendlines and accessing multiple time frames on charts while automatically saving these drawings, ensuring traders have the tools they need for precise analysis. Real-time quote watchlists are also available in both apps, helping users stay updated with market movements.
While both platforms provide stellar mobile trading experiences, CMC Markets takes the edge with a perfect 5-star rating compared to City Index's 4.5 stars. According to ForexBrokers.com, CMC is ranked 5th among 63 brokers for its mobile trading apps, whereas City Index holds the 9th position. This ranking may sway those seeking top-tier app performance, especially if comprehensive technical analysis isn't as crucial. Overall, both brokers offer reliable mobile platforms, but CMC Markets slightly outshines due to its higher rating and ranking.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing CMC Markets and City Index, both brokers provide daily market commentary and offer forex news from top-tier sources like Bloomberg and Reuters, ensuring traders are kept up-to-date with critical market insights. CMC Markets edges out with a five-star research rating by including tools from Autochartist, which City Index lacks. In contrast, City Index incorporates Trading Central tools, allowing for diverse technical analytics and research options. Both brokers offer sentiment-based trading tools and maintain economic calendars to highlight essential global news events, facilitating informed trading decisions.
Despite these common features, CMC Markets holds a slight lead, ranking sixth out of sixty-three brokers for its research capabilities, compared to City Index, which ranks tenth. This higher rating is indicative of CMC Markets' ability to offer a more comprehensive suite of research tools and data, making it a preferred choice for traders who value extensive market research support. While neither broker utilizes resources from TipRanks or Acuity Trading, CMC Markets' inclusion of Autochartist tools gives it a competitive advantage in technical analysis offerings.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by CMC Markets and City Index, both platforms provide a wide range of learning materials focused on forex and CFDs. You can find over 10 educational pieces such as articles, videos, and webinars on both brokers, ensuring a comprehensive learning experience. Both platforms also offer a searchable archive of previously recorded webinars and over 10 beginner-focused trading videos, making it easier for new traders to find the information they need. Additionally, each offers a glossary with more than 50 investing terms, helping beginners get to grips with essential jargon.
However, City Index has a slight edge for those who prefer live interaction, as it hosts at least one educational webinar each month. CMC Markets doesn't offer this, which might be a downside for beginners looking for regular live training. Both CMC Markets and City Index provide over 10 advanced educational videos for experienced traders, ensuring long-term learning opportunities. Despite City Index's high-quality offerings, CMC Markets is rated 5 stars for education, slightly edging out City Index's 4.5-star rating, even though City Index holds a higher rank (#9) compared to CMC Markets (#10) among 63 brokers in the ForexBrokers.com education category. Overall, both platforms are excellent choices for educational resources, catering well to both novice and experienced traders.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that CMC Markets is better than City Index. CMC Markets finished with an overall rank of #4, while City Index finished with an overall rank of #8.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
City Index
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both CMC Markets and City Index do not offer the option to buy actual, delivered cryptocurrency, but they do provide the ability to trade cryptocurrency derivatives.
Both CMC Markets and City Index provide flexible funding options including ACH/SEPA transfers, PayPal, and Visa/Mastercard, alongside bank wire transfers, though neither platform supports Skrill for account deposits or withdrawals.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | CMC Markets | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | City Index Review |
| Broker Screenshots | CMC Markets | City Index | |
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| Regulation | CMC Markets | City Index | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1989 | 1983 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 6 | 7 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | City Index | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | CMC Markets | City Index | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | CMC Markets | City Index | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 13500 | |
| Forex Pairs (Total) | 141 | 66 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | CMC Markets | City Index | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.3 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.65 | 0.74 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | City Index | |
|---|---|---|---|
| Minimum Deposit | $0 | £100.00 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | CMC Markets | City Index | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | CMC Markets | City Index | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 11 | |
| Charting - Indicators / Studies (Total) | 73 | 88 | |
| Charting - Drawing Tools (Total) | 36 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | City Index | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 29 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | CMC Markets | City Index | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | City Index | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | CMC Markets | City Index | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | CMC Markets Review | City Index Review |
| Overall | CMC Markets | City Index | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | City Index Review |
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